Brokerages Expect First Interstate Bancsystem Inc (FIBK) Will Announce Earnings of $0.73 Per Share

Wall Street brokerages expect that First Interstate Bancsystem Inc (NASDAQ:FIBK) will report earnings of $0.73 per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for First Interstate Bancsystem’s earnings. The lowest EPS estimate is $0.70 and the highest is $0.75. First Interstate Bancsystem posted earnings of $0.68 per share during the same quarter last year, which suggests a positive year over year growth rate of 7.4%. The company is expected to report its next earnings report on Wednesday, April 24th.

On average, analysts expect that First Interstate Bancsystem will report full-year earnings of $3.10 per share for the current fiscal year, with EPS estimates ranging from $2.97 to $3.20. For the next financial year, analysts anticipate that the company will report earnings of $3.28 per share, with EPS estimates ranging from $3.12 to $3.43. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for First Interstate Bancsystem.

First Interstate Bancsystem (NASDAQ:FIBK) last issued its earnings results on Wednesday, January 30th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.76. First Interstate Bancsystem had a net margin of 25.98% and a return on equity of 10.93%. The business had revenue of $153.20 million for the quarter, compared to analyst estimates of $151.76 million.

A number of brokerages have commented on FIBK. Zacks Investment Research cut shares of First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research note on Thursday, March 21st. BidaskClub cut shares of First Interstate Bancsystem from a “hold” rating to a “sell” rating in a research note on Friday, March 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.15.

In related news, Director Ross E. Leckie sold 2,204 shares of First Interstate Bancsystem stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $42.13, for a total transaction of $92,854.52. Following the completion of the transaction, the director now directly owns 17,027 shares of the company’s stock, valued at approximately $717,347.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jonathan R. Scott sold 15,670 shares of First Interstate Bancsystem stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $41.14, for a total transaction of $644,663.80. The disclosure for this sale can be found here. 24.93% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the stock. US Bancorp DE boosted its position in shares of First Interstate Bancsystem by 13.5% in the third quarter. US Bancorp DE now owns 22,376 shares of the financial services provider’s stock worth $1,003,000 after acquiring an additional 2,658 shares during the last quarter. Victory Capital Management Inc. grew its holdings in First Interstate Bancsystem by 57.1% during the third quarter. Victory Capital Management Inc. now owns 16,529 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 6,008 shares during the period. Wells Fargo & Company MN grew its holdings in First Interstate Bancsystem by 2.5% during the third quarter. Wells Fargo & Company MN now owns 249,834 shares of the financial services provider’s stock worth $11,192,000 after purchasing an additional 6,020 shares during the period. WINTON GROUP Ltd bought a new position in First Interstate Bancsystem during the third quarter worth about $299,000. Finally, SG Americas Securities LLC boosted its stake in shares of First Interstate Bancsystem by 64.8% during the 3rd quarter. SG Americas Securities LLC now owns 4,152 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 1,633 shares during the period. Hedge funds and other institutional investors own 49.56% of the company’s stock.

NASDAQ FIBK traded down $0.17 on Friday, hitting $39.82. 233,575 shares of the stock traded hands, compared to its average volume of 198,714. First Interstate Bancsystem has a twelve month low of $34.61 and a twelve month high of $47.05. The stock has a market capitalization of $2.41 billion, a P/E ratio of 13.64, a PEG ratio of 1.43 and a beta of 1.16. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.06.

First Interstate Bancsystem Company Profile

First Interstate BancSystem, Inc operates as the bank holding company for First Interstate Bank that provides range of banking products and services in the United States. Its deposit products include checking, savings, time, and demand deposits; and repurchase agreements primarily for commercial and municipal depositors.

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Earnings History and Estimates for First Interstate Bancsystem (NASDAQ:FIBK)

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